Formula E proposes to hold street races starting next year in 10 cities around the globe, including Los Angeles. It would use electric cars that are roughly similar in size and shape to those in the IndyCar series.

Andretti Autosport is the first U.S. team to join Formula E and the third overall. The others are Britain's Drayson Racing and China Racing.

"It's an honor for Andretti Autosport to have been selected as one of the 10 founding Formula E teams for the inaugural season," Michael Andretti said in a statement.

The cars' drivers have not yet been determined. The date and exact location of the proposed Los Angeles race also have yet to be announced.